Glossary


D
d

A deficit, or a loss.

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Day's Change

Percent price change from previous trading day's closing price.

Debenture

A long-term debt instrument that is usually not secured by collateral.

Debt

A company's financial obligations (short and long term, as well as capital leases). This information can be found on the balance sheet.

Debt Due

The sum of bank notes and other notes payable in 12 months (or less) and that portion of long-term debt due within 12 months.

Debt Due in Next 12 Months

Debt obligations that must be paid within the next year or less.

Debt Due within 5 Years

The amount of debt that is due within the next five years

Deferred Policy Acquisition Costs

The practice of deferring the cost of acquiring a new customer over the duration of the insurance contract

Deferred Revenue

Advanced payments or unearned revenue, recorded as a liability

Deferred Taxes

A line item on the balance sheet and occurs when the amount paid for income taxes differs relative to accounting profits. The difference is expected to be recovered or eliminated in the future.

Delayed price/trailing 12 month sales ratio

Last sale price (delayed) to trailing 12 month sales ratio

Delta

Also known as Change-Per-Point. Delta is the expected dollar change in an option price for a given dollar change in the stock price. Delta is largely derived from the probability that the option will end up in-the-money. See “Meet the Greeks,” Ot080728 in our Reports Archive. 

Delta Neutral

A combination of stock and options or just options in which the deltas offset each other. If the investor is long (short) time premium on a daily basis, delta neutral combinations can have positive (negative) Curvature or Gamma with a daily loss (gain) in premium. 

Demand Deposits (Bank Industries)

Deposits that a depositor may withdraw from his account at any time.

Demand Deposits(Bank Industries)

Deposits that a depositor may withdraw from his/her account at any time.

Depletion

An accounting method that allows companies extracting oil, gas, coal, or other minerals to gradually reduce the value of these natural resources.

Deposits (Bank Industries)

Total savings (time and demand deposits) entrusted to a bank.

Deposits (Thrift Industry)

Funds that have been entrusted to a thrift.

Depreciation

An amount charged against operating profits to reflect the aging of plant and equipment owned by a company.

Depreciation, Depletion & Amortization

An amount charged against operating profits to reflect the aging of plant and equipment, intangible assets, and resources owned by a company.

Derivative

A contract or security the price of which is dependent on some other security or commodity. A listed equity option is one type of derivative. A futures contract is another.

Diagonal Spread

Usually, this is a one-to-one spread with different strike prices and expirations, in which the option purchased expires later than the option sold. A diagonal bull spread consists of being long a longer-term lower-strike call (put) and being short a shorter-term call (put). A diagonal bear spread consists of a long longer-term higher strike call (put) and short a shorter-term lower strike call (put). See “The One-to-One Diagonal Spread,” Ot070820.Pdf in or Reports Archive.

Diluted Earnings Per Share

Net income (with certain possible adjustments) divided by the weighted average number of shares outstanding during a period, assuming any securities or other contracts to issue common stock (including options and warrants) were exercised or converted into common stock. (This calculation is required by the Financial Accounting Standards Board for all years ending after December 15, 1997.)

Dilution

The reduction in earnings associated with the hypothetical conversion of convertible securities into common stock. Also, in the context of a discussion of a merger or acquisition, the reduction in share earnings estimated to occur as a result of the merger or acquisition.

Discontinued Operations

A division of a corporations operations that has been eliminated via sale or closure.

Discount From or Premium Over Net Asset Value (Investment Companies)

The difference between the net asset value and market price, expressed as a percentage of net asset value. If the price exceeds the net asset value, the percentage of the excess or premium is shown with a plus sign.

Disposable Income

A Commerce Department figure published monthly that reflects personal income less income taxes and other taxes. Conceptually, the statistic is designed to reflect funds available for consumers to spend or save.

Distributions (Declared) as % of (Total) Assets

Distributions declared as a percent of total assets

Distributions Declared per share

Distributions Declared per share

Distributions Declared per unit

Distributions declared per unit

Distributions Paid per share

Distributions declared per share

Dividend

A payout to shareholders, usually in the form of cash or stock, determined by a Board of Directors.

Dividend Yield

The year-ahead estimated dividend yield (shown in the top right-hand corner of the Value Line page) is the estimated total of cash dividends to be declared over the next 12 months, divided by the recent price of the stock.

Dividend(2)

A payment to shareholders by the company. When all other things are equal, the higher the dividend is, the lower will be the call premium and the higher will be the put premium (See Ex-dividend date).

Dividends (Declared) as % of (Total) Distributions (Declared)

Percent dividends declared to total distributions

Dividends (Declared) as % of Earnings

Percent dividends declared to earnings per share

Dividends Declared

Dividends declared for REITs as listed in Funds Flow

Dividends Declared per ADR

Dividends declared per American Depository Receipt (ADR)

Dividends Declared per ADS

Dividends declared per American Depository Share (ADS)

Dividends Declared Per Share

The common dividends per share declared (but not necessarily paid) during the company's operating, fiscal year (displayed within the statistical array of the Value Line page).

Dividends Declared to Funds From Operations

Percent dividends declared per share to funds from operations per share (FFO/sh) for REITs

Dividends Paid Per Share

The common dividends per share paid during the calendar year (indicated in the quarterly dividend box in the bottom left corner of the Value Line page).

Dollar Strike Intervals

Options were once traded with strike price intervals that were no narrower than $2.50. That has changed, however. At present, a large number of ETFs, including the ones on the major stock market indexes (the Dow, the S&P 500 and the NASDAQ 100) trade in $1 strike intervals. There are also a large number of equities that trade in $1 strike intervals. We list these stocks in Figure 1 on page 4. Notice that none of these equities currently has a common price above $50 and that many of them trade at prices way below where they were a year ago. 

Dollar Value of Shares Held

Dollar value of shares held

Domicile Code

Code indicating the company's home country

Dow Jones Industrial Average
Dow Jones Transportation Average
Dow Jones Utility Average
Downstream

The refining and marketing operations of an energy company.

Downstream (Petroleum [Integrated] Industry)

The refining and marketing operations of an integrated oil company, as opposed to exploration and production activities (which are referred to as upstream operations).

Durable Goods

Products used by consumers or businesses that are expected to last three or more years. These goods tend to be big-ticket items (for example, automobiles and washing machines). Durable goods sales are generally interest-rate sensitive and correlate with the overall level of economic activity.